Defining who the legal payees are is important for any capital-intensive project where revenues are required to cover capital outlay as well as operations and maintenance spending. For utilities, offtake payments are common, with further guarantees required if the payor is deemed to have a high risk of delayed or missed payments. In addition, there are also increasingly more well-structured payments rights - fixed or variable charges and payment pegged to raw material cost. These payment rights may include the renegotiation of tariffs at stipulated time periods. For non-utilities such as rail and toll roads, it is even more crucial to clearly define payors and sources of income as this is crucial for understanding project economics and therefore attracting investors.